Jackson Financial Incorporation Class A (JXN)
NYSE:JXN
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Jackson Financial Incorporation
(NYSE:JXN)
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Rating:65Neutral
Price Target:
$121.00
▲(10.31% Upside)
Action:Reiterated
Date:05/09/26
The score reflects strong cash generation and an encouraging earnings-call outlook (reiterated 2026 capital generation/return targets and strong capital/liquidity), tempered by weakened TTM profitability and revenue contraction. Technicals are moderately positive with the stock above key moving averages, while valuation is constrained by a negative P/E despite a supportive dividend yield.
Positive Factors
Cash generation
Jackson consistently converts underwriting and investment income into substantial operating and holding-company free cash flow. That durable cash generation funds dividends, buybacks, and capital returns while providing flexibility for hedging, product investment and regulatory buffers even through a GAAP loss period.
Negative Factors
Weakened profitability
A trailing‑twelve‑month GAAP loss and declining revenue reflect earnings volatility that undermines persistent profitability. Negative returns on equity and episodic near-term losses can erode capital generation, limit reinvestment capacity and make multi-period targets harder to trust if adverse trends persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Jackson consistently converts underwriting and investment income into substantial operating and holding-company free cash flow. That durable cash generation funds dividends, buybacks, and capital returns while providing flexibility for hedging, product investment and regulatory buffers even through a GAAP loss period.
Read all positive factors
Jackson Financial Incorporation (JXN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.66B
Dividend Yield2.98%
Average Volume (3M)601.57K
Price to Earnings (P/E)―
Beta (1Y)1.42
Revenue Growth-20.54%
EPS Growth-652.89%
CountryUS
Employees3,060
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)-6.04
Shares Outstanding69,743,100
10 Day Avg. Volume571,740
30 Day Avg. Volume601,570
Financial Highlights & Ratios
PEG Ratio-2.71
Price to Book (P/B)0.75
Price to Sales (P/S)1.12
P/FCF Ratio1.30
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue1.14
Enterprise Value/Gross Profit1.11
Enterprise Value/Ebitda-15.86
Forecast
1Y Price Target
$130.50Price Target Upside18.97% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)23.28
Revenue Forecast (FY)$7.65B
Jackson Financial Incorporation Business Overview & Revenue Model
Company Description
Jackson Financial Inc., through its subsidiaries, primarily provides a suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity ...
How the Company Makes Money
Jackson Financial primarily makes money by manufacturing and administering annuity products and earning spreads and fees associated with those contracts. (1) Net investment spread: Customer premiums are invested in a general account portfolio (e.g...
Jackson Financial Incorporation Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call conveyed predominantly positive operational and financial momentum: capital, liquidity, free cash flow, and diversified product sales (notably RILA and FIA) showed strong improvement and management reiterated confidence in meeting 2026 targets. Headwinds were largely identifiable, one-time, or related to market/portfolio timing — including a $101 million hedge loss concentrated in the variable annuity business, below-assumption limited partnership results, elevated claims from a data-cleanup initiative, and modest fee-income timing effects. On balance, the highlights (capital strength, double-digit earnings growth ex-notables, robust product sales, rising free cash flow, and strengthened investment capabilities via PPM/TPG) outweigh the lowlights, which are described as manageable or transitory.Positive Updates
Capital Strength and Liquidity
Total adjusted capital of $5.5 billion, up nearly 5% year-over-year; estimated RBC ratio ~554%, well above minimum target; holding company liquidity nearly $650 million; combined available liquidity (holdco cash + PCAPS + undrawn revolver) ~ $3 billion; operating company liquidity > $35 billion including $7 billion in cash and U.S. Treasuries.
Negative Updates
Notable Items and One-time Impacts on Earnings
Adjusted operating EPS was reduced by $0.90 of notable items; $0.48 unfavorable impact from limited partnership results (below the long-term 10% return assumption) and $0.42 unfavorable impact from a proactive deceased-policyholder identification initiative that raised claims in the quarter — these items modestly reduced both earnings and free capital generation.
Read all updates
Q1-2026 Updates
Positive
Negative
Capital Strength and Liquidity
Total adjusted capital of $5.5 billion, up nearly 5% year-over-year; estimated RBC ratio ~554%, well above minimum target; holding company liquidity nearly $650 million; combined available liquidity (holdco cash + PCAPS + undrawn revolver) ~ $3 billion; operating company liquidity > $35 billion including $7 billion in cash and U.S. Treasuries.
Read all positive updates
Company Guidance
The company reiterated full‑year 2026 guidance targeting at least $1.2 billion of free capital generation (assumes a 5% equity market return and rates on the forward curve) and capital returns to common shareholders of $900–$1.1 billion; in Q1 it generated $271 million of free capital and $342 million of after‑tax debt capital, produced $288 million of holding‑company free cash flow (up 35% YoY), returned $257 million to common shareholders, paid ~$325 million up to the holding company, and ended the quarter with total adjusted capital of $5.5 billion (up ~5% YoY), holding‑company liquidity of nearly $650 million and total available liquidity of ~ $3 billion (including a $900 million PCAPS); other key metrics included pretax adjusted operating earnings of $430 million ($503 million ex‑notables), adjusted operating EPS $5.15 ($5.94 ex‑notables), TTM adjusted operating ROE 14.8%, non‑variable annuity net inflows of $2.5 billion, retail annuity sales growth of 31% YoY with ~ $2 billion of RILA sales and >$21 billion RILA AUM, fixed/FIA sales of ~$756 million (vs. $174 million a year ago), an overall net hedge loss of $101 million for the quarter, estimated RBC ~554% (risk appetite 425%), PPM AUM ~$95 billion (Jackson $59B / third‑party $36B), and conservative portfolio metrics (market‑to‑book 95%, <1% below‑IG exposure, leverage ~19.8% excl. AOCI).Jackson Financial Incorporation Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
66
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.86B | 6.68B | 3.09B | 3.17B | 9.72B | 5.50B |
| Gross Profit | 6.04B | 5.71B | 2.39B | 2.47B | 8.91B | 4.99B |
| EBITDA | -422.00M | -14.00M | 1.12B | 1.07B | 7.83B | 4.39B |
| Net Income | -373.00M | 27.00M | 946.00M | 934.00M | 6.19B | 3.42B |
Balance Sheet | ||||||
| Total Assets | 339.54B | 352.59B | 338.45B | 330.25B | 314.98B | 375.56B |
| Cash, Cash Equivalents and Short-Term Investments | 54.84B | 53.47B | 44.06B | 43.11B | 46.79B | 54.17B |
| Total Debt | 4.57B | 4.61B | 4.38B | 4.03B | 4.37B | 4.05B |
| Total Liabilities | 329.64B | 342.24B | 328.47B | 319.92B | 305.61B | 364.49B |
| Stockholders Equity | 9.50B | 9.95B | 9.76B | 10.17B | 8.65B | 10.39B |
Cash Flow | ||||||
| Free Cash Flow | 5.21B | 5.76B | 5.79B | 5.31B | 5.21B | 5.68B |
| Operating Cash Flow | 5.21B | 5.76B | 5.79B | 5.31B | 5.21B | 5.68B |
| Investing Cash Flow | -9.23B | -7.76B | -7.09B | -592.00M | -1.37B | -1.30B |
| Financing Cash Flow | 5.68B | 3.94B | 2.37B | -6.33B | -2.16B | -3.77B |
Jackson Financial Incorporation Technical Analysis
Positive
109.69
Price Trends
108.34
Positive
107.84
Positive
100.35
Positive
Market Momentum
-0.19
Negative
56.46
Neutral
75.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JXN, the sentiment is Positive. The current price of 109.69 is above the 20-day moving average (MA) of 105.04, above the 50-day MA of 108.34, and above the 200-day MA of 100.35, indicating a bullish trend. The MACD of -0.19 indicates Negative momentum. The RSI at 56.46 is Neutral, neither overbought nor oversold. The STOCH value of 75.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JXN.
Jackson Financial Incorporation Risk Analysis
Jackson Financial Incorporation disclosed 39 risk factors in its most recent earnings report. Jackson Financial Incorporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Jackson Financial Incorporation Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $8.55B | 10.44 | 32.28% | 1.59% | 5.70% | 61.07% | |
77 Outperform | $3.71B | 3.39 | 11.42% | 2.91% | 17.32% | -0.37% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $4.37B | 25.62 | 9.56% | 1.54% | 5.03% | -12.76% | |
67 Neutral | $3.47B | 16.76 | 2.46% | ― | -1.14% | 7.17% | |
65 Neutral | $7.66B | -4.35 | -3.73% | 2.98% | -20.54% | -652.89% | |
62 Neutral | $6.57B | -9.86 | 16.79% | 3.93% | 8.45% | 21.80% |
* Financial Sector Average
JXN
Jackson Financial Incorporation
109.83
27.42
33.28%
CNO
CNO Financial
46.82
8.71
22.86%
GNW
Genworth Financial
9.07
1.85
25.62%
LNC
Lincoln National
34.37
1.69
5.17%
PRI
Primerica
274.14
-1.69
-0.61%
FG
F&G Annuities & Life Inc
28.04
-3.33
-10.61%
Jackson Financial Incorporation Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Jackson Financial posts Q1 loss but strong cash generation
Positive
May 5, 2026
On May 6, 2026, Jackson Financial Inc. held its first-quarter 2026 earnings call, reporting a GAAP net loss of $435 million, or $6.24 per diluted share, alongside non-GAAP adjusted operating earnings of $361 million, or $5.15 per share. Excluding ...
Business Operations and StrategyExecutive/Board Changes
Jackson Financial Names New CEO for Asset Management
Positive
Apr 9, 2026
On April 9, 2026, Jackson Financial Inc. appointed Christopher A. Raub as President and Chief Executive Officer of its asset management subsidiary PPM America, Inc., where he will lead the executive team and oversee management of Jackson’s g...
Regulatory Filings and Compliance
Jackson Financial details prospectus for potential share resale
Neutral
Mar 27, 2026
On March 27, 2026, Jackson Financial Inc. filed a prospectus supplement with the U.S. Securities and Exchange Commission related to the potential resale of up to 4,715,554 shares of its common stock by an existing selling securityholder and its pe...
Business Operations and StrategyPrivate Placements and Financing
Jackson Financial Establishes New On-Demand Capital and Liquidity
Positive
Mar 19, 2026
On March 19, 2026, Jackson Financial Inc. arranged $900 million of new on-demand capital and liquidity through private placements of pre-capitalized trust securities issued by two Delaware statutory trusts, Grand River Funding Trust I and II, to q...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Jackson Financial posts strong 2025 results, boosts capital returns
Positive
Feb 18, 2026
Jackson Financial Inc. reported its fourth-quarter and full-year 2025 results, highlighting non-GAAP earnings of $1.6 billion, non-GAAP earnings per share of $22.67 and free cash flow of $838 million, despite a GAAP net loss of $17 million, or $0....
Business Operations and StrategyPrivate Placements and Financing
Jackson Financial and TPG Form Long-Term Strategic Partnership
Positive
Feb 11, 2026
On February 11, 2026, Jackson Financial Inc. closed a long-term strategic partnership with alternative asset manager TPG Inc., anchored by a $500 million common equity investment from TPG in exchange for 4,715,554 Jackson shares, or about 6.5% of ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.